I can visiting Magic Mountain twice many years ago once before the when there was little more than the chairlift and the castle and then again during the redevelopment they offered free entry the only ride operating was a Carousel the Parachute ride was not finished and there was also a very larger frame work with cargo like netting never did find out what that ride was about

I sorta get the feeling this place had promise but was a victim of it location that is the land was worth so much more as a residential development

Found a bit of History on the net and what looks like a very early image of the chairlift that started it all

In 1962, Page Newman built the Nobbys Beach chair-lift that later formed part of the Magic Mountain entertainment park. A cafeteria was built on top of the outcrop. It was a gamble that paid off. The chair-lift carried 40,000 people in its first year of operation. A Magic Castle was built, giving the park the "magic" theme. Intensive development commenced in 1983. $13.6M was spent to create the Magic Mountain theme park. Car parking was created onto and under the mountain. Attractions included a Parachute Tower, Wave Swinger rides and Magic Theatre. Magic Mountain closed in 1987 and the land was subdivided into two portions in 1993. The land was sold and is now the site of apartments, restaurants and shops. (Source of information: McRobbie, Alexander, 'The Fabulous Gold Coast', Pan News, Surfers Paradise, 1984

I remember this, also I took my son to magic mountain when he was little, I have a picture of him riding the carousel, the parachute ride was also operating, this ride looked spectacular as you were coming along the Gold Coast Hwy. When I drive up there now, I almost expect to see the chairlift, as it was apart of the landscape, for many years.